Behind on payments or facing foreclosure
Behind on Payments in Milwaukee? Know Your Options
If you are facing foreclosure, a clear cash option can help you decide what to do next. We will tell you plainly if the numbers work.
Get Your Cash Offer
Enter the property address to start.
- Buy as-is, no repairs or cleaning
- Written offer, no obligation
- You choose the closing date
If you are behind on your mortgage
Falling behind on a mortgage is stressful, and it often happens because of something outside your control: a job loss, a health problem, a divorce, a death in the family. If you are in that spot, you are not alone and you are not out of options. The most important thing is to understand where you stand and act while you still have choices.
We are not attorneys or lenders, and we cannot give legal advice. What we can do is tell you what a cash sale would look like and whether the numbers make sense for your situation.
Know your options
Depending on your circumstances, possible paths include:
- Catching up by paying the past-due amount, if you can.
- Working with your lender on a repayment plan or loan modification.
- Selling the house on the open market with an agent.
- Selling directly to a cash buyer.
- Bankruptcy or other legal remedies, with an attorney's guidance.
Each has trade-offs. A HUD-approved housing counselor can walk you through the choices for free, and an attorney can explain your rights. We encourage you to talk to one of them as well. A direct sale is simply one more option to put on the table.
When a cash sale can help
A sale can make sense when you owe less than the house is worth, or close to it, and you want to avoid the damage a foreclosure can cause to your credit and finances. If the sale price covers your mortgage payoff and costs, you walk away without a foreclosure on your record and possibly with some cash in your pocket.
Time matters. The longer you wait, the fewer options you have, and late fees and legal costs add to what you owe. A cash sale can close on a date that fits your situation, and the proceeds go first to pay off the mortgage.
When it does not
If you owe more than the house is worth, a sale may not cover the debt. In that case, the lender may have to agree to a short sale, and you should talk to an attorney. We will tell you plainly if the numbers do not work. We would rather say so than waste your time.
What to bring to the conversation
- Your most recent mortgage statement.
- Any notices from your lender or the court.
- Property tax and insurance information.
- A rough idea of the condition of the house.
- Your timeline, including any important dates.
If you do not have everything, share what you have. We can work with partial information.
How a sale works when you are behind
- You send the address and tell us your situation.
- We review the property and the numbers.
- We send a written offer and explain how we arrived at it.
- If you accept, a title company handles the closing and pays off the mortgage from the proceeds.
- Any leftover money goes to you.
What we will not do
We will not pressure you to decide fast. We will not ask you to sign over your deed before closing. We will not charge you fees. And we will not offer legal advice. If you are being asked to sign something you do not understand, stop and talk to an attorney.
Beware of anyone who promises to stop a foreclosure for a fee, asks you to transfer the title to them, or tells you to stop talking to your lender. Those are common scams.
Take the first step while you still have choices
The worst moment to look at your options is the week before a deadline. If you are behind, open the letters, call your lender or a housing counselor, and write down the dates that matter. Then compare what each option would leave you with. Many people feel relief just from seeing the numbers on paper.
If a sale looks like the best path, the sooner we start the more flexibility you have on timing and terms. If it does not, we will point you toward better help.
Questions about this situation
Can you stop a foreclosure?
We cannot promise that. A sale that pays off your mortgage before the process finishes can end it, but timing and the numbers matter. Talk to an attorney about where you stand.
Will selling hurt my credit?
A sale that pays your mortgage in full generally avoids the damage a foreclosure can cause. A housing counselor or attorney can explain the details for your case.
What if I owe more than the house is worth?
A regular sale may not cover the debt. We will tell you plainly if that is the case, and an attorney can explain other options.
Do I have to pay you anything?
No. You never pay us a fee to get an offer or to close.
Want to see if a sale can work?
Tell us about the house. No obligation, no fees, no pressure.